GumGum Closes $22 Million Funding Round

CORPORATE

GumGum, an ad-tech company specializing in contextual advertising and hoping to capitalize on the decline of the cookie in online media, today announced a $22 million Series D funding round.

Investor Morgan Stanley participated along with NewView Capital and UpFront. The new funding brings the company’s total to $58.6 million, according to GumGum’s Crunchbase profile.

In a statement, the company boasted “record” revenues of $155 million in 2019 and said it would release two new products this year including a new in-video ad unit.

In the same statement, GumGum CEO Phil Schraeder was bullish about his company’s prospects as the industry prepares for the decline of the cookie given its array of contextual advertising services.